Eiger BioPharmaceuticals (EIGR) Plans Offering of Common Stock

August 17, 2016 4:04 PM EDT
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Eiger BioPharmaceuticals, Inc. (NASDAQ: EIGR), a clinical-stage biopharmaceutical company focused on the development and commercialization of targeted therapies for rare diseases, today announced that it intends to offer and sell, subject to market conditions, shares of its common stock in an underwritten public offering. Eiger intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering. All of the shares of common stock to be sold in the offering will be offered by Eiger. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Eiger intends to use the net proceeds of the offering to fund the clinical development of its portfolio of four product candidates, and for working capital and other general corporate purposes.

Jefferies LLC is acting as sole book-running manager for the offering. Oppenheimer & Co. Inc. and Wedbush PacGrow are acting as co-managers for the offering.

A shelf registration statement relating to the shares of common stock offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on June 17, 2016 and declared effective by the SEC on August 4, 2016.

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